Newberry VA Loan Rates, Closing Costs & Stats

Newberry, SC

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Newberry's 28 lenders originated 49 VA loans during 2022. The total origination value was $13,905,000, with an average VA loan value of $283,776.

    Newberry VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Newberry averaged 6.46% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Newberry's average VA mortgage closing costs are $5,887.

    The average rate for the prior week (2023-09-15) was 6.54% and one month ago for the week of 2023-08-18, the average rate was 6.52%.

    The average rate one year ago was 5.68%.

    For refis of the same type during the week of 2023-09-22, the average rate was 6.92%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Newberry VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Newberry level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    NEW DAY FINANCIAL, LLC 5 5.12% $8,380
    Mortgage Research Center, LLC 3 5.66% $15,418
    Mr. Cooper ( Nationstar Mortgage ) 3 4.29% $7,520
    DHI MORTGAGE COMPANY, LTD. 3 4.67% $4,441
    QUICKEN LOANS, LLC 2 5.19% $14,832
    SUCCESS MORTGAGE PARTNERS, INC. 2 3.50% $15,634
    UNITED WHOLESALE MORTGAGE, LLC 2 4.69% $9,170
    USAA Federal Savings Bank 2 4.88% $13,171
    MOVEMENT MORTGAGE, LLC 2 3.50% $6,589
    GUILD MORTGAGE COMPANY 2 3.88% $6,221
    Ameris Bank 2 4.13% $5,893
    AMERISAVE MORTGAGE CORPORATION 1 4.75% $27,318
    Mid-Continent Funding, Inc. 1 5.50% $9,942
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $3,445
    NATIONS DIRECT MORTGAGE, LLC 1 5.99% $10,605
    PENNYMAC LOAN SERVICES, LLC 1 2.75% $5,640
    ROYAL UNITED MORTGAGE LLC 1 5.25% $23,774
    INTERCOASTAL MORTGAGE COMPANY 1 3.38% $16,818
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.25% $2,919
    Barrington Bank & Trust Company, N.A. 1 2.99% $3,202
    BROKER SOLUTIONS, INC. 1 4.99% $6,348
    CARDINAL FINANCIAL 1 6.75% $25,192
    Carrington Mortgage Services, LLC 1 5.13% $5,965
    CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $8,631
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.63% $2,780
    Flagstar Bank, FSB 1 4.75% $3,727
    HOMESIDE FINANCIAL, LLC 1 4.25% $1,314
    HOMESTAR FINANCIAL CORPORATION 1 5.63% $2,857

    The top Newberry VA lender as defined by loan originations is NEW DAY FINANCIAL, LLC, with 5 VA loans originated. Their average total fees are $8,380, which is $7,038 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Newberry VA lenders (with over 10 loans originated) are .

    The lowest rate Newberry VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $159,450 (-0.2%) $213,676 (-12.2%) 0.00 139
    2018-02-01 $161,450 (8.0%) $214,346 (-3.3%) 0.00 129
    2018-03-01 $176,250 (21.6%) $235,991 (7.6%) 0.00 116
    2018-04-01 $234,000 (56.0%) $258,935 (10.8%) 0.00 107
    2018-05-01 $236,500 (32.9%) $260,339 (5.1%) 0.00 91
    2018-06-01 $199,900 (12.8%) $256,734 (0.7%) 0.00 102
    2018-07-01 $195,700 (8.8%) $238,935 (-1.8%) 0.00 115
    2018-08-01 $237,450 (37.9%) $261,611 (12.1%) 0.00 108
    2018-09-01 $229,900 (27.8%) $250,899 (5.1%) 0.00 103
    2018-10-01 $209,475 (19.7%) $251,663 (9.4%) 0.00 101
    2018-11-01 $223,475 (27.7%) $246,556 (11.9%) 0.00 93
    2018-12-01 $225,000 (30.5%) $245,314 (13.0%) 0.00 95
    2019-01-01 $219,000 (37.4%) $242,047 (13.3%) 0.00 88
    2019-02-01 $220,375 (36.5%) $246,760 (15.1%) 0.00 86
    2019-03-01 $236,000 (33.9%) $266,512 (12.9%) 0.00 87
    2019-04-01 $250,125 (6.9%) $290,021 (12.0%) 0.00 86
    2019-05-01 $217,200 (-8.2%) $278,520 (7.0%) 0.00 91
    2019-06-01 $195,400 (-2.3%) $259,142 (0.9%) 0.00 86
    2019-07-01 $193,100 (-1.3%) $251,170 (5.1%) 0.00 88
    2019-08-01 $194,405 (-18.1%) $247,283 (-5.5%) 0.00 95
    2019-09-01 $190,211 (-17.3%) $242,552 (-3.3%) 0.00 96
    2019-10-01 $187,416 (-10.5%) $239,398 (-4.9%) 0.00 93
    2019-11-01 $184,999 (-17.2%) $246,932 (0.2%) 0.00 93
    2019-12-01 $187,450 (-16.7%) $246,651 (0.6%) 0.00 95
    2020-01-01 $198,450 (-9.4%) $258,781 (6.9%) 0.00 82
    2020-02-01 $199,900 (-9.3%) $272,399 (10.4%) 0.00 86
    2020-03-01 $208,408 (-11.7%) $275,522 (3.4%) 0.00 84
    2020-04-01 $211,380 (-15.5%) $284,288 (-2.0%) 0.00 85
    2020-05-01 $229,950 (5.9%) $302,857 (8.7%) 0.00 81
    2020-06-01 $224,424 (14.9%) $299,861 (15.7%) 0.00 63
    2020-07-01 $223,427 (15.7%) $295,016 (17.5%) 0.00 59
    2020-08-01 $219,900 (13.1%) $276,975 (12.0%) 0.00 48
    2020-09-01 $198,625 (4.4%) $239,626 (-1.2%) 0.00 47
    2020-10-01 $192,500 (2.7%) $246,698 (3.1%) 0.00 41
    2020-11-01 $207,450 (12.1%) $253,676 (2.7%) 0.00 36
    2020-12-01 $235,000 (25.4%) $295,374 (19.8%) 0.00 44
    2021-01-01 $223,500 (12.6%) $269,204 (4.0%) 0.00 36
    2021-02-01 $233,750 (16.9%) $278,941 (2.4%) 0.00 42
    2021-03-01 $249,913 (19.9%) $305,775 (11.0%) 0.00 33
    2021-04-01 $249,000 (17.8%) $303,252 (6.7%) 0.00 22
    2021-05-01 $256,375 (11.5%) $303,944 (0.4%) 0.00 21
    2021-06-01 $187,500 (-16.5%) $327,635 (9.3%) 0.00 28
    2021-07-01 $275,000 (23.1%) $367,964 (24.7%) 0.00 29
    2021-08-01 $257,875 (17.3%) $374,764 (35.3%) 0.00 37
    2021-09-01 $304,500 (53.3%) $426,106 (77.8%) 0.00 42
    2021-10-01 $295,000 (53.3%) $372,732 (51.1%) 0.00 41
    2021-11-01 $299,450 (44.4%) $445,380 (75.6%) 0.00 36
    2021-12-01 $299,500 (27.5%) $433,580 (46.8%) 0.00 29
    2022-01-01 $259,900 (16.3%) $425,996 (58.2%) 0.00 25
    2022-02-01 $245,500 (5.0%) $423,765 (51.9%) 0.00 17
    2022-03-01 $300,165 (20.1%) $486,032 (59.0%) 0.00 21
    2022-04-01 $302,940 (21.7%) $464,355 (53.1%) 0.00 36
    2022-05-01 $308,740 (20.4%) $497,143 (63.6%) 0.00 47
    2022-06-01 $309,940 (65.3%) $432,342 (32.0%) 0.00 58
    2022-07-01 $306,490 (11.5%) $431,245 (17.2%) 0.00 68
    2022-08-01 $310,165 (20.3%) $421,836 (12.6%) 0.00 62
    2022-09-01 $310,000 (1.8%) $414,530 (-2.7%) 0.00 59
    2022-10-01 $304,390 (3.2%) $392,733 (5.4%) 0.00 68
    2022-11-01 $299,950 (0.2%) $369,466 (-17.0%) 0.00 74
    2022-12-01 $289,900 (-3.2%) $364,707 (-15.9%) 0.00 73
    2023-01-01 $289,095 (11.2%) $374,066 (-12.2%) 0.00 58
    2023-02-01 $284,113 (15.7%) $338,327 (-20.2%) 0.00 56
    2023-03-01 $276,500 (-7.9%) $359,934 (-25.9%) 0.00 56
    2023-04-01 $305,000 (0.7%) $437,500 (-5.8%) 0.00 64
    2023-05-01 $401,000 (29.9%) $475,335 (-4.4%) 0.00 48
    2023-06-01 $356,750 (15.1%) $458,502 (6.1%) 0.00 41
    2023-07-01 $375,000 (22.4%) $462,830 (7.3%) 0.00 39
    2023-08-01 $413,750 (33.4%) $503,140 (19.3%) 0.00 44
    Newberry's median listing price for 2023-08-01 was $413,750, a difference of $103,585 (33.4%) versus the prior year and $38,750 versus the prior month.

    Newberry's median listing price comes in at 0% of the national average.

    Newberry's average listing price for 2023-08-01 was $503,140, a difference of $81,304 (19.3%) versus the prior year and $40,310 versus the prior month.

    For the 2023-08-01 period, Newberry had 44 MLS listings, a difference of 5 listings (13%) versus the prior month and -18 listings (-29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,861 sqft
    2018-02-01 0 days 1,809 sqft
    2018-03-01 0 days 1,945 sqft
    2018-04-01 0 days 1,985 sqft
    2018-05-01 0 days 2,064 sqft
    2018-06-01 0 days 1,883 sqft
    2018-07-01 0 days 1,832 sqft
    2018-08-01 0 days 1,906 sqft
    2018-09-01 0 days 1,926 sqft
    2018-10-01 0 days 1,969 sqft
    2018-11-01 0 days 1,942 sqft
    2018-12-01 0 days 2,007 sqft
    2019-01-01 0 days 1,953 sqft
    2019-02-01 0 days 1,943 sqft
    2019-03-01 0 days 1,906 sqft
    2019-04-01 0 days 1,854 sqft
    2019-05-01 0 days 1,866 sqft
    2019-06-01 0 days 1,834 sqft
    2019-07-01 0 days 1,770 sqft
    2019-08-01 0 days 1,716 sqft
    2019-09-01 0 days 1,716 sqft
    2019-10-01 0 days 1,736 sqft
    2019-11-01 0 days 1,824 sqft
    2019-12-01 0 days 1,857 sqft
    2020-01-01 0 days 1,915 sqft
    2020-02-01 0 days 2,002 sqft
    2020-03-01 0 days 2,001 sqft
    2020-04-01 0 days 1,979 sqft
    2020-05-01 0 days 1,997 sqft
    2020-06-01 0 days 1,945 sqft
    2020-07-01 0 days 1,893 sqft
    2020-08-01 0 days 1,978 sqft
    2020-09-01 0 days 1,912 sqft
    2020-10-01 0 days 1,929 sqft
    2020-11-01 0 days 1,997 sqft
    2020-12-01 0 days 1,967 sqft
    2021-01-01 0 days 2,009 sqft
    2021-02-01 0 days 1,933 sqft
    2021-03-01 0 days 1,918 sqft
    2021-04-01 0 days 2,044 sqft
    2021-05-01 0 days 1,964 sqft
    2021-06-01 0 days 1,690 sqft
    2021-07-01 0 days 1,950 sqft
    2021-08-01 0 days 2,020 sqft
    2021-09-01 0 days 2,111 sqft
    2021-10-01 0 days 2,100 sqft
    2021-11-01 0 days 2,100 sqft
    2021-12-01 0 days 2,156 sqft
    2022-01-01 0 days 2,096 sqft
    2022-02-01 0 days 1,821 sqft
    2022-03-01 0 days 2,038 sqft
    2022-04-01 0 days 2,049 sqft
    2022-05-01 0 days 2,196 sqft
    2022-06-01 0 days 2,196 sqft
    2022-07-01 0 days 2,196 sqft
    2022-08-01 0 days 2,232 sqft
    2022-09-01 0 days 2,361 sqft
    2022-10-01 0 days 2,303 sqft
    2022-11-01 0 days 2,234 sqft
    2022-12-01 0 days 2,196 sqft
    2023-01-01 0 days 2,211 sqft
    2023-02-01 0 days 2,182 sqft
    2023-03-01 0 days 2,196 sqft
    2023-04-01 0 days 2,176 sqft
    2023-05-01 0 days 2,354 sqft
    2023-06-01 0 days 2,175 sqft
    2023-07-01 0 days 1,886 sqft
    2023-08-01 0 days 1,905 sqft
    Newberry's median listing age (time on market) for 2023-08-01 was 0 days.

    Newberry's median square footage for active listings during the 2023-08-01 period was 1,905 sqft. One year prior, the average listing was 2,232 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.